joining us ed lazear, hoover institution senior fellow.chair of the president's council of economic advisors. wonderful to see you again. thank you very much for coming in. >> thanks a lot. pleasure to be back. david: now for me, and i suspect for you as well, there was very good news in this jobs report and that was there was really no growth at all in one sector. i think you know what that is, the government sector. i think that is good news, do you? >> well, i do too. this actually was a pretty good report. in fact i'm surprised that people interpreted it so negatively, because relative to the previous reports, this one was pretty strong. that, i like to look at two things in addition to the headline job number. the first is hours of work. and that went up considerably. the average work week went up.of a percent. part of that might be reflection of weather. -- .2 of a 1%. that is in terms of job it was equivalent to. this one was stronger. the second thing was employment to population ratio which is the proportion of people working rela

my special guest ed lazear.nd you've written many good op-eds regarding tax policy. i have one simple question. easy answer i would imagine. do -- does the tax code incentivize investors to make good investments? >> no. that's the problem. right now we have a system that creates disincentives for investment, creates excess incentives for current kunl summion and should move away from that in the direction of what most people think of is the right thing to do move towards a consumption tax as an easy way to do that, the easiest way to allow full deductibility of investment, right at the time with carry forwards and carry backs and you're basically there. it's an easy way to do it. it with have an enormous effect on gdp growth. that's what we should be doing. >> have you ever run into a normal, logical person from this planet and this solar system that would disagree with anything you've just outlined? >> no. i shouldn't say no. that's too strong. this is not radical stuff, stuff accepted within my profession. it'

. >>> the chairman of the economic advisers, ed lazear will be joining us on his take on today's jobsre where most people probably know that geico could save them money on car insurance, right? you see the thing is geico, well, could help them save on boat insurance too. hey! okay...i'm ready to come in now. hello? i'm trying my best. seriously, i'm...i'm serious. request to come ashore. geico. saving people money on more than just car insurance. whoyour boss?rk for? yourself? your parents? your family? at baird, what matters most to you... matters most to us. as an employee owned firm, our financial advisors have the freedom and resources to realize a plan to fit your family's unique needs. we'll listen. we'll talk. we'll plan. baird. >>> what a morning it's been with the jobs number. rick santelli is going of tackle that in the "santelli exchange." >> indeed. i'd like to welcome our guest former chief economic adviser to president george w. bush. welcome, ed lazir. >> nice to be with you. thanks, rick. >> thank you. listen, the gentleman who has your job currently, jason furman, was